x hide permanently

Why Western Union’s CEO doesn’t see bitcoin a fast track to overtaking dollars, euros

MarketWatch

Western Union Co. won’t add a cyrptocurrency transfer solution to its arsenal soon, said CEO Hikmet Ersek. Speaking at the Economic Club of New York on Wednesday morning, the head of the money-transfer giant explained that customers firmly favor fiat currency over upstart digital counterparts due to the broad usability of cold, hard assets like cash. “The consumers tell us what they want,” Ersek said. “People aren’t paying their hospital bills in cryptos,” he said.